PayPal (NASDAQ:PYPL) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of PayPal (NASDAQ:PYPL) from a hold rating to a buy rating in a research report released on Friday.

Other research analysts also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Oppenheimer started coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Barclays raised their price target on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised their price target on PayPal from $69.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Sixteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

PayPal Stock Down 0.5 %

NASDAQ:PYPL opened at $80.56 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $84.27 billion, a PE ratio of 20.29, a PEG ratio of 1.47 and a beta of 1.44. PayPal has a 52-week low of $50.25 and a 52-week high of $82.00. The stock has a 50-day simple moving average of $74.50 and a 200 day simple moving average of $66.74.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. On average, sell-side analysts expect that PayPal will post 4.42 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Financial Advisors acquired a new position in PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank bought a new position in shares of PayPal in the 2nd quarter valued at $3,014,000. Distillate Capital Partners LLC increased its stake in shares of PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.